Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need help with this Raul owns real estate in two states: his personal residence in Georgia and a small condominium in a coastal town

I need help with this

Raul owns real estate in two states: his personal residence in Georgia and a small condominium in a coastal town in South Carolina. After reading about probate, he has several concerns. First, he is worried that all of his personal financial information will become public if his estate goes through the probate process. Second, he is concerned that his executor will need to deal with the probate courts in both Georgia and South Carolina. He is worried that this could get expensive, in addition to being a hassle. Third, he is tired of having to worry about the many ways to title each piece of property.

As a single person, Raul's home and condoo are titled fee simple. Is he correct that, if he were to pass away, the property would need to go through the probate system?

Yes or No

George was in an automobile accident. According to the police report, he was responsible for causing the wreck. The accident was large enough to close down the interstate for an hour. The three people in the other car were rushed to the hospital. The costs associated with the rescue and medical care were $18800for each person.

If George's PAP split limit coverage was 25/50/25, how much will the insurance company pay, in total, for the medical treatment for those in the other car?

$25000.

$50000.

$18800.

$56400.

George was in an automobile accident. According to the police report, he was responsible for causing the wreck. The accident was large enough to close down the interstate for an hour. The three people in the other car were rushed to the hospital. The costs associated with the rescue and medical care were $18,000 for each person and George's PAP split limit coverage was 25/50/25.

In this case, George is considered to be a(n):

uninsured motorist.

underinsured motorist.

felon.

victim of a hit and run.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Modern Portfolio Theory and Investment Analysis

Authors: Edwin Elton, Martin Gruber, Stephen Brown, William Goetzmann

9th edition

9781118805800, 1118469941, 1118805801, 978-1118469941

More Books

Students also viewed these Finance questions